Where do I begin?
Invest some time and think about the requirements you have for your purchase:
- Which areas would you consider buying in?
- What kind of property are you looking for?
- What are your essential requirements?
- What is your budget?
- What timescale are you working towards?
- Are you reliant on selling a property in order to purchase another? If so, is your property on the market yet?
- Have you taken financial advice?
Contact your local Osborn Humphreys office. It will give you an opportunity to discuss your requirements and for us to get to know you and really understand what it is you are searching for.
Is it time to view properties?
- Once you have a good idea of your needs, it's a good time to start viewing. Try and see a wide range of properties so that you can fully appreciate what your money will buy in your chosen area.
- The sooner you become confident about value, the sooner you will be in a position to buy with conviction.
- See as much as you can, however if you find the perfect property early on in your search, don't delay. If you like it, the probability is that someone else will!
- Give detailed feedback to your agent; it will help to guide them in matching other suitable properties.
I've found the property for me!
When you find a suitable property, consult your agent about how to proceed. An offer is about more than just money; you will be asked to provide details of:
- Your buying position. If you are dependent on a sale, details of the agent representing you will need to be given in order to confirm any chain details.
- How you propose to fund the purchase with evidence that you can proceed
- Proposed timeframes
- Any inclusions (curtains, kitchen appliances, etc)
The seller will expect us to obtain all of this information as it will aid them in making their decision.
What happens now?
Once a sale has been agreed, your agent will be the main point of communication between all parties involved in the transaction and will be with you every step of the way to assist where at all possible.
Your immediate priorities are:
- Instruct a recommended solicitor with recent experience of your chosen area.
- Instruct and pay your IFA/ Mortgage broker (if applicable) to submit your mortgage application and organise a mortgage valuation.
Once the legal ('Conveyancing') work has been carried out and your finances are in order, you will be in a position to 'exchange contracts' prior to the agreed 'completion', at which point you can take possession of your new property.
Any other advice?
- Invest time in your agent; the better they understand your needs, the more they can help.
- There are thousands of mortgage products on the market. Consult an independent mortgage advisor who can tailor the product to your needs.
- Make sure everybody who needs to see the property has seen it before you offer.
This is an exciting yet sometimes stressful time for all involved. Be aware of the feelings of all those involved in the transaction and try and react logically and calmly to the ups and downs of the transaction.